we weren't spending money on all of those bonds killing here. this is timothy 11 on on her voices. the world has turned its back on so that our lives to match. so many people matter just as much as any other connect with our community and be part of the conversation. we feel very of face because of the 2nd child sensitive things. they don't see the need and then trying to appease the people on social media. the stream on out to 0, the, the hello, i'm adrian said again, and this is counting the cost on which is 0. you're reaching look at the world of business and economics. this region, it's seen as a game changer, but critics say artificial intelligence is just hype. so will i drive explosive growth when it disrupt the economies and cost workers, the jobs?

i, technology is costly. the tech companies are pouring billions of dollars into it. really investment payoffs. just how important will a i page where businesses bottom line of the you and says the need for global regulation of ally is irrefutable. it warms what if the industry is left on government, its benefits to be limited to a handful of states and companies. almost one trillion dollars. that's how much tech companies are estimated to be spending on building up the artificial intelligence industry over the coming years. suppose that the technology say that a, i would increase productivity, boost incomes and revolutionize the global economy boss. with the excitement surrounding the potential of artificial intelligence comes along a growing number of investors. worry that a, i want to live as a huge profits. they seek, at least not in the foreseeable future. and critics one but a, i could replace human jobs a deep and in

a corner seat polls are growing for regulates us to come up with policies to leverage the potential of ally for the benefit of all human as he sent to them on a 100 reports to the hype around artificial intelligence has created high expectations. jp morgan predicts that it will eventually add as much as 17 percent of the us economy. and many industry insiders have held it as a revolution that will change the world forever. has huge transformative potential like a can to what the steam engine did for physical labor. and, you know, it took loads off the backs of humans, off the backs of the animals that we use to have power fields and put it onto machinery. i think that's a good analogy to what these large language models are going to do to intellectual labor. but so far, that change hasn't quite materialized. businesses have had mixed results. some case studies have shown productivity gains while others dropped their ai services

altogether, saying it wasn't worth the cost. some critics of called it a bubble. the question whether generated a is currently up to performing complex tasks, are good at doing certain things very well. life translation forwarding, they're very good at pattern recognition of human faces. humans are still infinitely better. i think it's credibly over hyped. but told from skeptics hasn't stopped huge amounts of money from flowing into a i venture capitalist and invested more than 60000000000 dollars this year. on top of that big tech firms like amazon, microsoft, alphabet, and massa are you estimated to spend between 30 and 60000000000. i almost estimate the returns are still to work by expenditures, but firms believe they must secure a slice of the market or be left behind when you go through a curve like this. uh, you know, the risk of thundering listing is dramatically greater than the risk of what we're

investing for us here. in the short term, a faces obstacles and opportunities, the costs the consumer appears to be going down the latest models from google and open. they are both faster and cheaper than their predecessors, but governments across the world are also debasing how to regulate a i, and it's unclear what impact these regulations will have on business. so let's say i wrote the measurable impact on national economy until 2027. so perhaps time is what will make the difference and revealed a i is boom or bust, fence and monahan, elgin's era for counting the cost. what companies and governments around the world of waking up the costs and benefits of artificial intelligence. integrating a i into a company's business systems isn't cheap. research fund, got the estimates, the cost to be between $5.00 and $20000000.00. it also protects that's 30 percent of these projects, could be a band and by 2025 due to the expense box. that might also be much to gain

consultancy from p. w. c. estimates that a, i could have made a 16 trillion dollars to the global economy by 2030, but with big changes come big disruptions beyond imap says the 40 percent of all jobs will be affected by a i. in some cases, it will make those jobs much more productive in all those low. it could displace workers as many tasks previously done by people i've taken over by computer programs. all these changes were impact everywhere and everyone in the same way, developing economies are likely to face less disruption from a like compared to developed ones boss. they may also miss out on a lot of the games, potentially whitening global wealth and equality. with south korea is experimenting with a i and one of its busiest subway stations with foreign tourists in the capital. the new service can interpret several different languages in near real time using the technology units. kim reports from sol. what now the subway station here,

and saw where a new a guy in naples service window has been installed. it's able to facilitate the simple exchanges and 12 different languages excluding korean. let's go check it out . hello, where is the nearest bathroom? from here? the system translates the speech to text in near time on the screen. i don't know if you look to the right you'll find the bathrooms. the station master provides an answer in korean, which is translated into the inquiries language. the station was selected as a test bed, as it's most frequented by foreign passengers. of all metro station says just it will be no one, but it's always nice when approached by a phone visitor in the past, i'd become frozen with fear because i don't know how to speak the language. now i have confidence that i can provide friendly and accurate information. thanks to this new system. i'm very pleased with us. we're still has all the a r c. so will undergo for months of testing before being rolled out. more subway

stops across sol, possibly on smartphones as well. meanwhile, self 3 is electronics giant's home. some says it will roll out. it's next series of galaxies, smartphones with a built in a translation service. and yet another example of how artificial intelligence is being folded into our daily lives unit skim all to 0. so all right, let's bring a panel of experts from london to joint by touch with duke. she's the founder of diverse, a i a full of program manager for responsible a i at google from sidney, but joined by toby walsh, a professor of a i at the university of new south wales, a institute, and from london in which a managing director of liberty sky advisors, welcome to you will touch your let's start with you. as a, i grows, it to appeal is undeniable. it's no down here to stay, but is it a good thing? is it going to benefit each and every one of us, or is it going to benefit a few,

a lot of those months for a little that depends on how it's being deployed. i'm beautiful that if it's the properly responsibly and using responsible principles, it will benefit everyone, the kind of stage that it's being developed. um it's been moving really, really fast. the she has this, my job moved fast and break savings. i think the mindset of apologize later as well . i'm about so mindset and the people will be less be if we change the will of motion right now, i'm changed paced up with definitely a i technologies, especially generally to technologies. i mean, i, technologies that seem to be so positive, human intelligence with a big question about that. and if the whole mindset is changed and will be kind of what, developing systems a bit slow. well, i'm bringing everybody on the table and part of it, as part of the decision making process is the design and development and testing of

the impacts of all the uses across the world that it will benefit everyone in society. toby, what's, what's your view on this about whether it is a good thing is it's going to be good for a few minutes and we were all sort of getting familiar with it. now we're encountering things like chat g tube, g, p, t. it's, it's in some of our cause a how much more willing influence on lives going forward. i think in the future it's going to be hard to imagine our lives without all to be georgians. but it's about us making the right choices. now this is not the 1st technology, this disrupted our lives, and it's about ensuring that the wealth isn't comes traces as, as view. and i think there's increasing recognition my among civil society organizations amongst the public. the, just as the drop of barons initially captured the wealth and industrial pollution. so we need to make sure that these digital roger rubber bands federalist capture

the wealth of the start revolution. a, a deal, a and a i, skeptic, if i can put it like that at least in terms of the amount of money that's being spent and invested in a, all right. and it's practical use. this is a, i just a flash in the time, or do you think it, it, it does, do you agree with toby that it has the potential to impact all of our lives and we, we, comp, we won't be able to imagine how we have lived without that well, funnily enough, i think what you'll have, you'll have both. i mean by that, is that your why i am a step 6, find you on a i is the quite frankly, the same, but you will provide the average faith, 5 average good, big 5 dollars for many people votes. and i think you report highlights that quite, quite frankly, i just sort of be able to handle the tests, but humans do at the moment and it's very hard to see about what's changing in the media future. i think there when it comes to way i use technology i and way i

see it is really that i will be used maybe more as a cost saving measure and necessarily. ready as that new generation, and it's just like skeptical about how i did it with the sort of the opposite values of all the economy. i think many times we use it to reduce jobs and you're seeing scenarios, for example, such as out to customer service. and so forth. i think the applications are in bitch, the idea that outpatient intelligence will drive you, but you grow 3 things from 1st. i think that's quite possible. i would look at it quite frankly. i, i taught on 2 things. one a is that with us would love to technology support tends to happen is the big ones . the rest may change since you've been paid yet. i'm actually implementing the technology, for example, you know, well what happens is that people produce more e mails, certainly lead to an increase in productivity. i also boxed that just simply because so the people's behaviors change. i think the 2nd thing is look at what's

happening, for example, in the us is just using ai over the past few decades, osbee is far advanced. so, but at least that income thoughts is now actually pulling back from a only because they said it just doesn't really deliver what it is hurtful as far as markets are concerned. and do they really understand the potential pitfalls of the, of a i, along with its benefits is what's going on at the moment. we will this investments in the way that markets are excited about, about a, just another bubble. well, i think you can see that markets and investors don't really know why just the reaction, right, have window valves, the model events where when it comes to demonstrations fixed on the day when our have a hitch and it's presentational. i over a $100000000000.00 by itself, the market capitalization of alphabet in 2 days. and you guys make stream reaction

before i get shows, is that quite frankly, investment analyst at the moment, don't really have any idea of whatsoever, or what could be the potential of a i a at the moment it's same is driven by a huge. so the, i'm, i'm gonna argue i'm, but it was as well. but when it comes to the fundamental technology is not really a big amount of understanding within the financial markets to, to what you, what do you make of what, and what site should the development of a, i, b, the onset to it's. i mean, currently that is very to the low of a site of the how companies are integrating a i into the interactions with us, the public as an advocate of a i do believe that it needs from regulatory oversize in its development and uses particularly now in these early, early days has been here for a long time, over 200 um,

changing types of decades ago. and um, well, been saying lots of a, i went through some, some of this over the years. right. so this bubble that we're talking about is that the 1st time we're having this a bubble way, you know, and i promise it says much, and investors get really excited, pump so much money into it. and then people's the same invest isn't, you know, organizations kind of like you spent in a i because the capabilities and the promises we're not the take the money out of it. so right now we're back in the spring on a i, some of some people say, regulation has been here for a while, like, you know, for the past couple of years we have the e, i s, we have the job items, um, executive order on a, on and off countries across the world, especially in the western side of things, have been developing a regulation. um, so a bunch of questions in like, you know, how much do best is really understands the pitfalls of the i think it's really small. i think there's a very lot um general lack of understanding of how the icon in pre people's lives

and there's a lot of excitement around the business premises of a i. so it's um, it's almost like a chicken and egg problem. right. if we're not bringing people or not i'm, i'm bringing communities around. ready i'm thinking about, um, thinking beyond the business in pennsylvania, i see the benefits of a and that's why we're having issues with people are scared about death displacements for me. i, i'm scared about the, i just, you know, taking over their lives and they have the full control or imputes into it. and if we don't change the wheel again, like i said before, that's, that's going to be a lot of homicides hmo already seen that now, and there's always so much regulation can do. because there's lots of products involved in this is really use the, the economy, a lot of, you know, governments, i'm really interested in the capabilities of the, i, by the same time, there's lots of homes that's happening to people and people from much in the life societies i'm young people as well, phone number people. the people are not really getting to share files and some of

some of it makes it makes it into the media. for example, it was a teenager from florida a couple of weeks ago, the tickets online, because he was having to buy clothes, interaction with an a i chuck lots of, it's an a character. and the 1st the head of this, i'm regulations still exist right now. but it's not able to stop these terrible things from happening to people. toby, do we need to regulate a, i mean, one of the day just told you highlighted the, some of them there of what are the challenges for uh for, for more make cuz as they deal with, with the technology, the old such great potential, but also poses such a great threats and also how do you regulate an industry which is growing so rapidly and changing so rapidly? 100 percent. we do need to regulate, say, on your largest comes companies. market capitalization on the was say, uh tech companies used to be, they were ex banks and oil companies. now the tech

companies and last businesses always have to be regulated. so yes, we do really have to recognize them as he and his interest agency or we already started see the beginnings of that you, i act as a good example of what we got to start say, which is the politicians the public. you're waking up to the idea that this is probably a large business added to the benefit of the public. it needs to be regulated. um and is it met it's financial pressure? it's a $1000000000.00 a day that's been invested they. i opened i, the company behind charge of the jake foss destroyed company, and that in the history of capitalism, they went from no income to one year later. a $1000000000.00 analyzed bread and never the we have never seen spot sought spectacular results. but equally, but is there a significant risk, the risk for a very obvious the risk to our democracy?

are these companies across national boundaries, the of the wells useful nations and they could see their disrupt all very like to purchase. so yes, we definitely do have to regulate, um and it's, it's easy to do so because either they only get act, you know, icon is according to the privileges that we get for the terming well, regulation stifle innovation to. well, that's the what we saw would if we would carefully be we would map of if you, we didn't, you we've for the last 20 years. we. so if we regulate 2 that would start to invest was probably true 20 years ago. it's not true today. date, if we don't regulate, we will stifle innovation and future. the public will turn against them where we live. so many bad outcomes, but it will start for the innovation. so indeed, i think many people engage. i know, i know many of the people who work in google working, microsoft working open i,

they would welcome some regulation. the moment is the race of the boss, and they would actually say, you know, we tend to these things because we choose and we do that because often batches of the guys and some of the successful floor in these behaviors. and they would, welcomes more regulation. and whether you stand on, on regulatory oversight, have government spend too slow and at least taking a view. i don't think that's necessarily the case. i mean, you go yeah, you do have a lot of changes coming through and things do seem to that is of the change on your monthly basis. i think a lot of the issue will be quite frankly, governments and regulates is not having a proper handle on what deep stations all of this technology don't media understanding it. and this is something that you see when it comes to the tech sections of all over the past 1520 years of my life, devise a cute on facebook and so forth. and so it was definitely a known issue that you've got when it comes regulation suspects. actually,

what will happen is that in some ways with this technology and it goes back to what you were saying, given, recalls the markets in the way will regulate themselves. and what do i mean by that? well, i think will become pretty clear. so the markets over the next few years and more, i'd say businesses, why i technologies would come, which quite frankly, a waste of money. and i think there's some areas that i'd say has she potentially impact for example, science, big publishing. i mean, let's see, 2 codes with masses of data in a very short amount of time, and all of us come up new medicine, some new applications on. i think most people would say you got a site hosted site. see, i think the ways that many companies are thinking about a i move in and i'm saying to them to start making themselves out, hey, i can and peers things. i've taken care of possibly on the heights and i think will happen with those companies. i used to be an initial stuff, an investment. look,

i'm pretty well make realize it to some what then what will happen is they will pack off themselves and lead to is a situation. i think this is a good number of years. i don't know what happened is i, i won't get channelled into sudden areas where it does have a major impact. but in other areas, quite, quite frankly, it's impacts is the i don't, i think the funding stop and go back to the point i will go back to the seventy's. that was. yeah, i went to go was funny. ok. all prizes like 80 start. suppose i japanese economy poetry when money is polled for the phone and because of the mom's so much money in order to push through all the changes and well, what happened is i, i by itself. so the focus is that and have is, will stop treasure. i'm truly was talking about one company in particular the company behind check g g b t was dominating the field of the board. but what about it in terms of national

interest here? who's going to win the race, the dominated a i? is it going to be the us? is it going to be silicon valley isn't going to be china? is it going to be someone else? i think i think this does quite obvious. um, i mean say somebody has been meeting this race. most of the companies all face didn't seem to come valley with the i hope it out. um, there was a bit of a problem with it. you know, and the owners, that advocates it because you know, the people in europe a complaint is that if we keep them come out these regulations, you have the spanish channels that gave us the us to come up with such have t regulations to stifle innovation. the still day was changed a little bit, and i think it's a bit more from the bull. i mean, part of the problem we have is, is just the concentration of the companies coming from the us. china is also due to a lot of things. we don't really get to hear so much about what's happening in china, but we know this is all around computer vision and facial recognition. and um,

you know, the people in china, from what we hear, it's not really how the twins for the ai, ai systems of the shows into their faces. literally, in europe we have very few companies that are working on a, i am part of it is really these investments, right. especially when we're thinking about a new way to be on. i think it's important to see the difference between the traditional ai, ai net in the past, which is still where i can today like predictive machine learning, you know, using it's a full cost of data analysis. a lot has been here and people having be using this mrs. have to use an image for the engine or it took me i came along from open a i and them to a lot of these thoughts. and then all the other tech companies had to do shows show somebody to invest as and it was community to pressure and generation airlines coming up with so much promises that they are unable to deliver. and that's where the problem, the problem really lies is there's so much expectations around to know who they are . i believe generated the i at the station still being the experimental for it should still be in the research on it shouldn't be put inside surprises just yet.

people can still run pilots with them and test them out but do not put so much invest. ready into them considering the amount of investment through plan to build one large language model for instance, which because of the for being a, for $1000000.00. okay. i'll be back with you in just about that. but here's something else to think about. all this emphasis on a, i may have an impact on the environment. electronic waste or e waste is projected to increase a 1004 by 2030, largely due to the demands of a i that could be as much as 5000000000 terms of material. that's difficult to dispose of a waste is already at record levels, much of a toxic around the around 12 percent of it is currently recycled. to be that, and that's an issue that many people want a thought about really with, with, with a i the bay focus on the positives. i suppose this comes down again to regulation. does the impact the a i is going to have on the environment should the be a individual state level laws that are put into place all?

should that be a global agreement on, on what happens? not only with the development of a i, but also its environmental impact. i'd be worried about the label agreements. it's . it's very hard for the countries to great, but yeah, we should be 100 percent worried about by all these extra analysis, the environmental costs, the energy costs, the uh, the costs uh is as low. so the cost on pricing the day. so yes, these are things that we should be worried about. these extra haas is the market will populate pricing. these are things that you, we really have to care about. because the games that have long term impact on the benefit, the net benefits, the reach out to me, i don't know. and how worried about all you have about about a all we've been talking a lot about the positive impact. the a i is going to have on, on all of us, how concerned are you particularly about this issue of regulation and where the, where the governments are moving fast enough to get a handle on it's, it's,

but it's disruptive potential as well as it's, it's positive once as well, i mean somebody i spoke to the just the said i, i'm quite skeptical. maybe not, i'm not too worried about trend today. i use the technology. i think there are definitely invitations for me. um, but you will have stations on the side tv, go back to the last point in terms of the environment. what i would say is, you can say, this toby at how much next is you can also say the cost is what's happening with a i is actually type of charging innovation in areas like usually around in june is all the companies to get more involved in investment and i think actually lots of posters assigned to given the issues that we have with energy infrastructure. i'm my feeling is that where the risk risk drops the all at the moment. oh, we have to there's always a tendency and we've seen this before. so the didn't have to do something now i

think, but i, i don't think that's necessarily the case, but we can do with that. we do have time to see how things develop same or all the things we have. uh, so the 30 most issues. okay. i'm things by quite frankly, phase of in the heights i'm, i'm, what i'm concerned about is that if we still have decided, if we got to invest regulation, now i'm at this point, what will happen is locked in regulation. it will tend to be long lasting. and then what will happen is a few years down the line. people realize a little bit more is not regulation, but, but it was never seen at the top. i'm sorry, we're out of time. many thanks for the it was fascinating discussion really enjoyed that. told you toby, in many sites and dates of being with us on counting the cost. and that's our show for this week. if you'd like to join the discussion on a i, i'm at a filling up on x. try to remember to use the hash tag a. jason, you can see or you can drop us a line counting the cost. i'll just, you know, don't that is our email address as always, most plenty,

most viewed online at alpha 0 dot com slash ctc. that takes you straight to the page and then you'll find individual reports links out into additions to the capture. but that's it for this edition accounts with the cost. i'm adrian's kind of got until the team here and so have thanks for being with us. the news on out to 0 is next. those the know do those that understand teach a maverick school headmaster impulse and comfort go fast. determined to change the fortunes of an inner city community played by urban the cape poverty of the legacy of secretary and the russian arms of students with the knowledge of the ancient greek philosopher. participate on your face for this vein, and everybody else has this young play to a witness documentary on the jersey to the

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use and education after the no minus are damaging for us landed corporate. and if nothing is done to regulate the industry, it will destroy natural food and water sources. the, the director of a hospital in garza is detained, offers right, he strikes, ignite a knowledge fund in the medical facility. hundreds of patients and stuff sees the have been released. the other them are kyle, this is officer a lie from the also coming up there is new administration says it's tightening security across the country. members of the former ami hand in the west of.